Wallaby Financial and CreditCards.com have announced the launch of their WalletUp app on iOS and Android devices. The app provides financial advice to users, and focuses on helping consumers better understand their credit card rewards programs to earn the most rewards possible with every transaction. The app provides a database of more than 2,000 credit card programs, and also works to help users decide which types of cards best fit their needs.
WalletUp users begin by creating an account and adding their general credit cards to their profile. This doesn’t involve specific credit card numbers, but instead asks users to simply choose the kinds of cards they own from the app’s list (a Platinum Delta Skymiles American Express card, or a general Capital One Cash Rewards card, as examples).
The database knows the types of rewards programs associated with each card, where applicable, and recommends the best card for each transaction while users are shopping. The app tracks a user’s location, and allows consumers to tap on a business to see which kind of card they should use at that establishment.
For instance, when buying food at a restaurant, the app might suggest using one’s Chase Sapphire Preferred card, because it offers two times the points when dining at restaurants. If two cards tie in their recommendations, the user’s favorite card (manually chosen when first entered) is presented first. Businesses themselves are shown on a map, and listed alongside phone numbers, website links and addresses, where available.
Users can go one step further with the experience, connecting their actual card accounts to the app. This allows the app to offer better usage recommendations, and also allows users to see the status of their rewards and track all of their spending in one place.
Elsewhere, the app provides general information about major credit cards, so users can explore these card types and determine the ones they’d like to sign up for. The app then provides links to apply online or over the phone, where available. In addition, users can learn more about airline and cash back cards via comparison tools, which compare those individual cards with those that only offer low interest rates.
“So many consumers’ wallets are filled with cards with complex rewards programs; it’s difficult to know which card to use to earn the most value for each purchase. WalletUp makes it simple,” said Jody Farmer, vice president at CreditCards.com, in a statement. “Our goal of providing consumers with the easiest possible way to maximize their credit card rewards was the ideal starting point in creating a killer app. By combining the best of the best in financial content, data, algorithms, and interface design, we feel we have achieved our mission.”